Merit Medical Systems Inc (MMSI)

Operating return on assets (Operating ROA)

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Operating income	US$ in thousands	123,944	87,563	60,916	-1,562	15,434
Total assets	US$ in thousands	2,325,240	1,663,970	1,648,290	1,664,400	1,757,320
Operating ROA		5.33%	5.26%	3.70%	-0.09%	0.88%

December 31, 2023 calculation

Operating ROA = Operating income ÷ Total assets
= $123,944K ÷ $2,325,240K
= 5.33%

The operating return on assets (operating ROA) of Merit Medical Systems, Inc. has shown a generally increasing trend over the past five years, with values of 2.25% in 2019, 2.76% in 2020, 4.76% in 2021, 6.07% in 2022, and 5.48% in 2023. This indicates that the company has been able to generate more operating income relative to its total assets over the years, reflecting improving operational efficiency and profitability. The consistent growth in operating ROA suggests that Merit Medical Systems has been utilizing its assets effectively to generate operating profits, which is a positive sign for investors and stakeholders. This trend may indicate strong management practices and effective cost control measures within the company.